Bombay High Court held that for an assessment to be reopened beyond a period of four years there must an omission or failure on part of the assessee to disclose fully and truly all material facts necessary for the assessment and should not merely be the change of opinion of Assessing Officer (AO).
All about Input Tax Credit under GST Input Tax Credit The tax already paid by a person at the time of purchase of goods or services and which can be deducted from the tax payable is referred to as Input Tax Credit. Input credit refers to the ability to deduct the tax you have already […]
The recent issuance of Bulletin Part-II on the Lok Sabha’s website has created huge havoc between the common man, investors and market players. The said Bulletin covers the ‘General Information relating to Parliamentary and other matters’. As per the Bulletin, ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’ is likely to be introduced […]
Ease Of Doing Business – अर्थात ‘व्यवसाय करने में सरलता’ पिछले कुछ वर्षों से विषय अंतर्राष्ट्रीय, राष्ट्रीय एवं मध्यप्रदेश राज्य के स्तर पर एक महत्वपूर्ण चर्चा के बिंदु के रूप में छाया हुआ है | ‘मेक इन इंडिया’ जैसे आंदोलनों के द्वारा अंतर्राष्ट्रीय स्तर पर विभिन्न देशो में समूहों में भारत एक नए इन्वेस्टमेंट डेस्टिनेशन […]
The 33rd Annual International Seminar of the Institute of Chartered Accountant of India (ICAI) UAE Chapter is going to be held on 25th and 26th November 2021. The theme of the event is ‘Building Resilience – Emerging Stronger’. The professional event of ICAI has recently got into the limelight because one of the appointed speakers […]
Deposits means when a company are generally acquiring funds from the members or the public in the form of loan or any other form as may be prescribed, but does not include certain classes of transactions. Companies aim to secure finance by different cost-effective methods to suit their financial requirements. The legal definition of deposit […]
Status of Liability of Personal Guarantors under the Insolvency and Bankruptcy Code, 2016 (IBC 2016) The law of Insolvency and Bankruptcy has been newly harvested and on account of this, various situations arise day-in and day-out concerning different provisions of this law and their implementation which not only causes ambiguity and confusion but also demands […]
The Applicant has sought Advance Ruling to confirm the applicability of GST on Services provided by club to its members. The applicant has taken the aid of Judgment delivered by the Hon’ble Apex Court in the case of State of West Bengal v. Calcutta Club Limited in Civil Appeal No.4184 of 2009.
You might be wondering why I am saying it that there are two stock exchanges in India (BSE and NSE) however there are other stock exchanges also exists in India. But here I am talking about major Stock exchanges currently operating in India very effectively. Ever wondered if BSE was handling all the investments and […]
In GST, Section 9 of the CGST Act 2017– related to levy and collection, There are 2 types of charges under GST (1) Forward Charges (2) Reverse Charges :- (a) under reverse charge, there are two type of payments i.e. Taxable supplies provided by register person to register person (b) depend upon the nature of […]
